Selected Transactions for Parton Company Are Listed Below

question 114

Essay

Selected transactions for Parton Company are listed below. List the number of the transaction and then describe the effect of each transaction on assets, liabilities, and stockholders' equity.
Sample: Issued common stock in exchange for cash investment.
The answer would be-Increase in assets and increase in stockholders' equity.
1. Paid monthly utility bill.
2. Purchased new display case for cash.
3. Paid cash for repair work on security system.
4. Billed customers for services performed.
5. Received cash from customers billed in 4.
6. Paid dividends.
7. Incurred advertising expenses on account.
8. Paid monthly rent.
9. Received cash from customers when service was rendered.

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Definitions:

Adapted Physical Activity

Customized exercise and sports programs designed to meet the unique needs of individuals with disabilities, aiming to improve physical function and quality of life.

Urinary System

A group of organs responsible for filtering and eliminating waste products from the blood in the form of urine.

Hard Erection

A state of penile firmness sufficient for sexual intercourse, often an indicator of healthy erectile function.

Incontinent During Night

The inability to control urinary or bowel functions during nighttime, often referred to as nocturnal incontinence.